Lombard Bank Malta plc - Full-Year Results

The 2008 full-year results of Lombard Bank Malta plc were published following a Board of Directors meeting held on Thursday 12 March 2009. The Directors approved a gross final dividend of €0.10 per share to those shareholders on the Company’s register as at close of trading on Monday 16th March 2009. Shareholders have the option of receiving the dividend in either cash or by the issue of new shares at an attribution price of €2.50 per share. The shares will trade ex-dividend as from Tuesday 17th March 2009.

During the year ending 31 December 2008, the Lombard Group generated a pre-tax profit of €14.14 million, 32.9% higher than the comparative period in 2007 mainly due to the contribution from the investment in MaltaPost plc. The Directors explained that Lombard plc maintained a liquidity ratio of 71% against a statutory minimum of 30%, a loan to deposit ratio of just under 74%, a capital adequacy ratio of 15.2% and a cost to income ratio of 39.1%.  The Directors also stated that although the Bank is not immune to the current financial turmoil, the Lombard Group is well placed to meet the challenges of the coming year.

A review of the Full-Year results is available here.

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